Ethereum Price Analysis: ETH/USD’s Upside Capped Near $114-115

Key HighlightsETH price failed to stay above the key $109 support and declined recently against the US Dollar.Yesterday’s highlighted important bearish trend line is intact with resistance at $114 on the hourly chart of ETH/USD (data feed via Kraken).The pair may correct higher in the short term, but upsides remain capped near $112 and $114.Ethereum price fell further against the US Dollar and bitcoin. ETH/USD could continue to move down and it may even test the $102 support zone.Ethereum Price AnalysisYesterday, we discussed a couple of important resistances near $119 and $120 for ETH price against the US Dollar. The ETH/USD pair failed to break the $119 and $120 resistance and declined recently.

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